The Dying Dollar and the Rise of a New Currency Order

For years now, the collapse of the dollar has been in the cards. Recent developments show mounting pressure on the dollar’s reserve currency status. With a major international deflation going on, the threat of inflation through money printing is unreal. However, should the dollar’s reserve currency status end, the repatriation of trillions of petro- and eurodollars could lead to a strongly inflationary scenario.

The roles of a reserve currency are to finance international trade and to function as a store of value for Governments. Until the second world war it used to be the British pound, but with the demise of the British Empire, the pound lost its international relevance and was overtaken by the dollar. This was formalized in the 1944 Bretton Woods system. All other currencies were fiat currencies, but pegged to the dollar, which in turn was pegged to Gold at 40 dollars an ounce and redeemable for international trading partners.

The Eurodollar
With the dollar as the reserve currency, the US had to export dollars. In the early years after the war especially for Europe, the famous Eurodollars. This sounds great: print money and buy whatever you like. But with the Gold window it was also risky: overprinting could mean excess dollars would be exchanged back to Gold, depleting US Gold reserves.

This was also a weakness that those annoyed with American Hegemony could exploit. In 1967 the leftist press mogul Jean-Jacques Servan-Schreiber penned a famous screed called ‘le défi Américain’ (the American challenge’), arguing Europe was being colonized economically by superior American competition.

France, at the time, was run by de Gaulle, who never was impressed with Anglo-American supremacy. He made a point of exchanging every dollar he could lay his hands on as a means to undermine it.

In the late sixties the situation got badly out of hand because of the Great Society and the Vietnam war, very costly projects that were deficit financed, leading to serious inflationary pressures. Inflation that the US tried to export, leading to an excess of dollars abroad. Especially the resurging Deutschmark’s appreciation became untenable. The Europeans started pressuring the US to fix its deficits, provoking the US Treasury Secretary John Connally famous cry ‘the dollar is our currency and your problem’.

But the situation had become unsustainable and Nixon was forced to close the Gold window to stop the depletion of US gold. This was the end of the Bretton Woods system and from then on the major currencies were floated freely in the international currency markets.

The Petrodollar
But it did not end the dollar reserve currency status, as the Empire had been found another basis for it: they reached an agreement with the House of Saud, to accept only dollars for its oil. The Sauds agreed to invest their dollar wealth on Wall Street, making the deal even more powerful for the Empire. Saudi Arabia controlled OPEC and the dollar was saved: international oil trading is financed with dollar only. Since then we have been on an informal Black Gold standard, known as the petrodollar.

This situation was better than before, because overprinting of the dollar for international trade or to finance all sorts Empire projects could no longer be punished by depleting Gold reserves and would result only in rising prices.

In the last decade the problem of over printing was solved by artificially raising oil prices through the Peak Oil hoax, and ending Iraqi oil production. It must be understood that the Empire is not looking for more oil production. There is so much oil in the world that should it be drilled for freely, it would end the Money Power’s energy monopoly. The Iraq invasion and the quest for control of the Middle-East is to keep a lid on oil production. Saddam’s suicidal decision to accept euro for his oil only hastened his demise.

Even today Iraqi oil production is not even half of what it was before 1991. With the Western Oil companies now in charge, it will most likely never fully recover.
By raising the price for oil, the oil market has mopped up excess dollar supplies, which are now needed for the oil trade. As a result, the dollar has remained relatively stable in its value. Of course, it fits well with the agenda of decapitating the middle classes and under this agreement higher oil prices also means ever more oil profits invested in Wall Street.

Of course, the great boon of this for the Empire is that it can pay with worthless paper for real goods. It can eternally finance a major trade deficit.

Trade deficits are incorrectly understood as problematic.
From a nation’s point of view, the goal of trade is not to export, but to import. We export to give back for what we need from others. If you run the reserve currency, you don’t need to export as much as you import, because you can partially finance your imports with money printing. For all other nations this is impossible and trade deficits are lethal in the long run, as it leads to net capital outflow.

But the US Empire is in trouble. Its infrastructure is crumbling, its manufacturing base gone, it’s badly over extended. It needs ever more virulent threats to coerce the nations into dollar submission and just like Connally failed in 1971, the US is failing today. The Money Power is done with the Empire and the dollar and it is moving to the next phase. The dollar will have to step back and we are seeing a realignment.

The new currency order
China is moving towards a Gold backed yuan that will be very powerful in the international arena. Recently Australia, which is already completely dependent on China, with 30% of its exports going there, is preparing direct convertibility between the yuan and the Australian dollar, meaning they will no longer use US dollar to finance bilateral trade. This means less US dollars are needed in its reserve currency role.

In 2001 Goldman Sachs executive Jim O’Neill invented the BRIC’s. South Africa was later added, representing Africa and emphasizing its globalist agenda. Russia and China, as two powerful neighbors, obviously have long standing and important bilateral relations. But equally obviously, have little in common with Brazil, India and South Africa. India and China are actually sworn enemies. However, in 2009 they organized a first summit. Just a week ago we all of the sudden hear the BRICS are planning to open up a competitor to the IMF. They’re still working out the details and it’s not a done deal yet, but the move looks very serious.

And there is of course the euro, which, make no mistake, is in great shape. True, Eurocrat legitimacy is suffering because of the euro crisis, even in Germany the currency is losing support. But the euro crisis is purely for internal consumption, to sucker the nations into surrendering budget responsibility to Brussels. This is the final frontier for a full blown EU federalist Super State. While the euro is deeply hated, this is not really a problem for the Money Power: it isn’t in this business to make friends and it does not mind a big fight. It only fears real alternatives and these are nowhere to be seen. There is nobody proposing anything real, people are just letting off steam. Once they get their fiscal union, the crisis will quickly end. People have a short memory.

The euro was designed to be eventually backed by Gold and the ECB has enough of the stuff to be ready for the coming transition.

Conclusion
We are seeing the advent of the new currency order. There will be a number of more or less equal blocks: a dollar zone, a Yuan/BRICS zone and the euro, with the Yen and the Pound as lesser entities. These will later be able to converge to even more ‘cooperation’, in the Money Power’s relentless march towards World Currency.

These units will be at least partially Gold backed, implying long term deflationary pressures. Central Banks are buying Gold in major quantities, creating the interesting question why Gold prices have not risen in the last 18 months.

The problem for the United States will be to manage the transition. Trillions of dollars that will no longer be needed will have to be repatriated and this will lead to very strong inflationary pressures at home. It is unclear how the Fed is going to deal with that. It probably can’t. Furthermore, the US is probably in the worst of positions to deal with a new Gold standard. They claim to have 8,000 tonnes of Gold in Fort Knox, but nobody really believes that.

The hyperinflation scare that the Austrians have been promoting because of ‘money printing’ is ridiculous: we are in a stagflationary depression and prices are rising because of speculation, not because of excess money. But when the dollar loses its current status, long term price rises will become the norm.

The Greatest Depression has only just started.

AfterthoughtHere’s a highly recommended post by Roberts, the Assault on Gold. It makes a plausible case for massive Fed bullion busting. As discussed in ‘why is Gold not Rising?‘, the ascent of Gold was a carefully orchestrated operation, but it probably got out of hand in 2011. Since then the Fed has been very active on COMEX again. With CB’s and market players buying massive amounts, it’s the only logical explanation for stalling bullion. The fall of COMEX and the fall of the Dollar are basically an evil twin, they will happen simultaneously and because of each other.

One year before his ‘Cross of gold’ speech, William Jennings Bryan said this in the House of Representatives:

I propose the only policy which will help the Government. I only ask that the Treasury Department shall be administered in behalf of the American people, and not in behalf of the Rothschilds and other foreign bankers.

The restoration of an honest dollar–a dollar which will defraud neither debtor nor creditor, a dollar based upon two metals, “the gold and silver coinage of the Constitution.” We believe that in the restoration of bimetallism we shall secure the re-establishment of equity and restore prosperity to our country.

The Record of 1913 is now online; I do not need to go to the United States to read it. (nonetheless, still I am the only one with the courage to read it)

And what do I find in it? As suspected: there was no need whatever for a century’s worth of conspiracy paper-backs; not even for Eustace Mullins’s Mullins on the Federal Reserve which became the foundation of regurgitated staples since 1958.

As the Record shows, Mullins did not do deep research, he merely helped himself to the Record (especially Lindbergh’s address) and presented it as his own discovery. He could not tell his customers the source of his finangled wisdom, there is no money in that.

Contrary to the myth(s) originated by Mullins –and propagated by two-bit con-men like Bill Still and Ed Griffin and other regurgitators– it was openly stated in Congress that the Glass bill is the Aldrich bill under a different name. Republican supporters of the Aldrich bill loudly complained that Carter Glass plagiarized the Aldrich bill, to which Carter Glass replied: “As a Republican measure it was not operative; as a Democratic measure it may be operative.”

b) the content of the bill was not secret; all points and concepts of the bill were published in newspapers, in September, 1913.
(Following the passage of the bill in the House, the Senate held a 3000-page hearing; Jacob Coxey and Alfred Crozier testified, and told anyone, inside and outside the Senate, how he felt about this proposition; did anyone care to listen?)

c) there were plenty of Representatives and Senators there to vote, and everyone of them knew what he was voting on/for

another surprise/shock which Mullins knew but did not want to tell his customers:
On September 11, 1913, Charles Lindbergh addressed the House for an hour, and said such things:
“The Glass bill proposes to incorporate, canonize, and sanctify a private monopoly of the money and credit of the Nation”
which would give the impression that Mr. Lindbergh was opposed to the Glass bill (which on December 23rd became the FedResAct); but when we turn the pages to September 18, when the bill passed in the House, we find that Representative Lindbergh voted yes to this Glass bill —what was he thinking? that we needed a well-regulated banking and credit system ?

The Record shows that those who regurgitate that quote from Lindbergh, have not read the speech by Lindbergh (some of it he did say, some of it is invention; the whole thing is a composite)

In the Senate, we hear not a beep from Senator LaFollette…….

~~~~~~~~~~~~~~~~~~~~~~~~~~~~
the Record is a cruel thing: ruins daydreams and fantacies

The Record was available to anyone –free of charge– and it was/is a lot better history book then the garbage compiled by shoplifters and pick-pockets

The Record is amusing, too, if we turn back the pages to 1912 when the Democrats vehemently opposed the bill presented in the Report of the Monetary Commission; these same Democrats now vehemently supported the same bill under a different name —and the Republicans had to go into all sorts of contortions to feign opposition to the Aldrich bill that was now the Glass bill

Where was Cross-of-gold Jennings Bryan in all this? in the middle of it, on the Glass bill’s side………

Reblogged this on bear1941 and commented:
I went through a divorce in 1999 and I thought I would be safe. I paid for the house and she put all her teaching wages in deferred comp. I left that bitch with nothing but my small pension and SS and now I am suffering! Mired in credit card debt just to eat. I will be going under soon and suicide looks really good.

Silver is the must have currency because its needed in to many defense products and not being hoarded like gold is and its easier to trade with;buy with [pay employees with and its still way to cheap.Gold may see 2000 again but for sure silver will see 100 an ounce and very soon too.You can buy 1000 lbs of silver for just 320,000 dollars .1000 lbs of gold will cost you 19,200,000,dollars,silver will go up 5 times its worth before gold rises 40 p/c,and silvers easier to handle………we are a year away from the dollar being worthless,if you dont have as much silver as you can afford ,your in big trouble even trying to buy a loaf of bread

I have $10,000 in stocks and bonds. I am retired and have to rely on the US Government for my $770. a month to survive. I am not alone! There are many elderly people who will find it almost impossible to live. It is way we need to pray and believe in the Lord’s mercy, no matter what happens.

I’m not an investment adviser and I claim no financial savvy.
But the NYSE’s funny money driven bubble is very near popping in my view and personally I wouldn’t give a cent for Treasuries atm. I think you’d do well to acquire at least a bit of Gold just in case there is a serious systemic crisis.

Do a little research and I think u’ll find the Rothschild consortium has a LOT more gold, silver, oil/gas, mines, and REMs (rare earth minerals) like platinum, palladium, etc, than officially reported.

they will move it into other extremely cheap upcoming currencies at the speed of light called the futures or derivatives market.and get this it is the first things banks will payout in the event of failure .The fdic maybe has 5% of depositor’s money available first come first served.

This entire thesis is totally wrong. The dollar has exploded higher and precious metals, especially silver, have collapsed. The dollar doomsday people should admit they are wrong and find a new theory.

Anthony, I agree, it’s probably a ‘Swan Song’ but it could turn out to be one of several ‘Black Swans’ up there somewhere waiting to swoop down with a big ‘Dump’. I have no idea IF
‘Broken Clock Harry’ Dent et ilk are correct but 2 legs on his 3 legged stool predictions have
collapsed: The meteoric rise of the Dollar and the continued collapse of gold & commodities.
It remains to be seen if stocks will collapse to 6000/ lower, and gold to 700 but I wouldn’t at
all be surprised.
So your Swan Song may extend for a considerable period, far beyond what most any of us
expect. (A globalized QE 4/5 plus a 100 + trillion Bond/Tax may be in the hopper.)

But I’d affirm, sooner or later, at the end of this recession/depression, hyper inflation awaits.

“Of course, the great boon of this for the Empire is that it can pay with worthless paper for real goods. It can eternally finance a major trade deficit.” And this allowed for the de-industrialization of America and the build up of China without people complaining too much, because the dollar hegemony kept american’s standard of living from dropping. But now the US is rife for a major crash. I see financial collapse, internal conflict, loss of empire and martial law in america’s future.

Without a shift to pure credit, that equals the value of the money people now possess in banks, property or are receiving from the US Government, there will be anarchy in the streets of America. People will not know how to cope with no food, water, basic necessities which will threaten the safety of Americans everywhere. The world banks should be able to come up with worldwide credit for everyone in every country. Do you think this is a possibility, since people will suffer all over the globe where the dollar has been used for decades?

Anthony, I believe that the money power uses paper gold to manipulate the gold market and keep the price artificially depressed. By simply dumping paper gold in unison they can crush a gold rally at will and this enables them to panic amateur investors out of their physical gold, which the Central Banks immediately grab up. Paper investments like GLD or SLV are decoys … paper promises that will have no gold or silver to back them when the Dollar collapses by Money Power design.

It’s the same trick the London Goldsmiths employed in the 1600s when they issued gold back notes without adequate gold in reserve to back them.

Oh, absolutely Dugan. But this game is almost up. People will at some point start collecting on paper promisses and this will be the end of both the dollar and the US Empire. Expect phsyical Gold to explode when it does.

Lunatics! all of you! LOL there is no money!! only debt, promises to pay, all debts are prepaid you cant buy anything only discharge! look it up HJR 192 the country is bankrupt already we are in the 3rd bankruptcy

LOL!
Try to guess the political slant of whoever placed Bush’s photo holding a burning dollar?
Newsflash: Obama is & has been running the show for 5 years now & you must grow up & stop blaming his economic malaise on others.

I’m afraid you need to grow up Dave. This has nothing to do with Obama or Bush: they both implemented the same agenda. Bush by creating the bubble, Obama by purposely mishandling the aftermath. They are handled by the same people and are on the same team.

8000 tons of gold is not a lot compared to many many countries. There is supposedly 1600 tons still buried in Russia the Stalin/Hitler axis did not loot. Russia they claim is alive with gold deposits just waiting to be mined.

SPOT ON Anthony…SPOT ON!!!
Exactly what the UE (uber elites) have done since the Fed Res was first founded 100 yrs ago
and probably much earlier.
Prepare for a coming globalized digital Fed Reserve before or after our economy implodes.
Tax bonds may be used to back it.

Obama is the one who have been printing money without any labor behind it. Bush never did this. Obama has been printing $1 trillion/year again without any labor behind it. Not good at all. To put Bush’s face on this article does not hold Obama accountable and shifts the blame on the wrong person.

Sorry but they’r BOTH equally guilty and accountable as well as CONGRESS!
Always remember:

Article I Section 7

Section 7 – The Text
All Bills for raising Revenue shall originate in the HOUSE OF REPRESENTATIVES; but the Senate may propose or concur with Amendments as on other Bills.

Every Bill which shall have passed the House of Representatives and the Senate, shall, before it becomes a Law, be presented to the President of the United States; if he approve he shall sign it, but if not he shall return it, with his Objections to that House in which it shall have originated, who shall enter the Objections at large on their Journal, and proceed to reconsider it. If after such Reconsideration two thirds of that House shall agree to pass the Bill, it shall be sent, together with the Objections, to the other House, by which it shall likewise be reconsidered, and if approved by two thirds of that House, it shall become a Law. But in all such Cases the Votes of both Houses shall be determined by Yeas and Nays, and the Names of the Persons voting for and against the Bill shall be entered on the Journal of each House respectively. If any Bill shall not be returned by the President within ten Days (Sundays excepted) after it shall have been presented to him, the Same shall be a Law, in like Manner as if he had signed it, unless the Congress by their Adjournment prevent its Return, in which Case it shall not be a Law.

Every Order, Resolution, or Vote to which the Concurrence of the Senate and House of Representatives may be necessary (except on a question of Adjournment) shall be presented to the President of the United States; and before the Same shall take Effect, shall be approved by him, or being disapproved by him, shall be repassed by two thirds of the Senate and House of Representatives, according to the Rules and Limitations prescribed in the Case of a Bill.

Section 7 – The Meaning
The House of Representatives must begin the process when it comes to raising and spending money. It is the chamber where all taxing and spending bills start. The Senate can offer changes and must ultimately approve the bills before they go to the president, but only the House may introduce a bill that involves taxes.

When proposed laws are approved by both the House and Senate, they go to the president. If the president signs the bill, it becomes law at the time of the signature, unless the bill provides for a different start date. If the president does nothing for 10 days, not including Sundays, the bill automatically becomes law, except in the last 10 days of the legislative term. In that time, the president can use a “pocket veto”; by doing nothing, the legislation is automatically vetoed.

If the president does not like the legislation, he or she can veto the bill, list objections, and send it back for reconsideration by the chamber where it originated. If the president vetoes a bill, the bill must be passed again with the votes of two-thirds of the House and the Senate for it to become law.

Congress also may change the bill to make it more acceptable to the president. Although, for political reasons, presidents are cautious about vetoing legislation, the threat of a veto will often press members of Congress to work out a compromise. Similarly, if Congress has the ability to override a veto, it is likely the president will make every effort to compromise on the issue.

Bush. Obama. It doesn’t matter. The presidential office is like a toy car with a toy steering wheel. He is not the man in charge. From Johnson on, they have all been the same. The president that the Rothchilds want.

tell that to Germans whose currency became worthless overnight because of the Allied world war one repayment act that the german government took care of by devaluing their currency by a 100 million to one a program called notgeld making everybody in germany poor but those with gold ultimately leading to the rise of hitler. The mark ,ten years before notgeld was worth a us dollar .This kinda of crp actually happens to good people because of greedy cronnies

Well, it looks like the greedy cartel of international bankers finally got what they wanted, a manufactured crisis to push us into a New World Order and and an era of Global Governance. Good bye to the Sovereign Nations of the world and hello to government for George Soros, of George Soros, and by George Soros. May he and his evil apprentice rot in hell.

lol A story about the end of the Dollars reserve currency status… but they put a picture of Bush on the story??? Dude hasnt been president in over 5 years. We live under solid Obama policy and still he’s not and has not been the president… Bush still is???? lol Beam me up!!!!!!

Anthony, you’re right in the end, but not in the conflicting beginning.

You’re saying two things… the first is that Bush “created” the problem and then you’re saying he “inherited” the problem and you’re giving Obama a pass for following the wrong path.

You are right that Obama is following the wrongs path created long before the first Bush…

It started before 1913; this hundred-year anniversary is the mark of the Federal Reserve lie.

The Federal Reserve is neither a Federal Agency nor a Reserve (except for the Banksters).

Note the terms Banker and Bankster are two different terms. A Banker is an honest businessman. A Bankster is a gangster who controls the flow of money for his own benefit. The tern Bankster indicated more than one banker/Bankster is involved. They are wolves in sheep clothing. They look, talk, and act from all outward appearances like a Banker. But their hidden agenda is for a New World Order where they control the World economically.

When I say hidden I mean the goals behind that New World Order are hidden behind the noble concept of “World Peace” and prosperity. But the prosperity is for them while the sheep are peacefully grazing on the little green grass given them. The sheep are a stupid flock that eats the grass down to the root and then they have nothing left.

Now that the sheep have nothing they have to borrow from the Banksters at a rate the Banksters set at a level to keep most people poor. They add rules and regulation so small business people will have to stay small while they invest in the large business and reap the profits. You’d think they’d be against taxes. Wrong! They love taxes. The more the better! Why? Because they have the politicians in their pockets and the politicians write the loopholes they complain about without fixing. They pit the rich against the poor because the poor can’t do anything but pay their taxes and borrow more money to get buy. Those few people that don’t have to borrow from the Supper Wealthy are called the Middle Class. So a few people win the lottery… it is taxed.

Oh yes… they allow others to invest in the big corporation and control the market place so people will gain… and lose… while they (the Banksters) benefit in the long run by having the market crash on queue. The whole concept is to pretend one thing and do another while making the masses believe the Banksters are hurt like the bankers and others are. Think of this… you supported the sub-prime loans and why? The sub-prime policy was said to be for the noble purpose of everyone being able to own a home. But what was the result? The market was over heated. Home prices rose to meet demand and the expectation of high profits. It looks as if the banks are losing millions on foreclosures, doesn’t it? Ha, ha, the joke is on all of those folks who are still paying their mortgages on properties that are worth about half of what their mortgage is. Yes, the people who got foreclosed; lost their down payments; their credit rating went down, and they will now have to pay dearly to borrow money (from whom: the Banksters). The banks can cry that they lost money on the deal… but the government bailed them out… so they haven’t lost like the people who lost their homes lost… they are not only living high on the hog… they are collecting all of the wealth from the overvalued home where the people are still struggling to stay and pay the higher taxes.

You don’t think government wanted less money because the economy went down, do you. No. Property taxes went up so the little people are paying a significantly higher tax relative to the home value. And the Bankers are sitting back smoking their big cigars and laughing.

Obama is a lying puppet… with multiple strings attached… strings that normal people can’t see. McCain was just a Mannequin Candidate, and I have no idea about who Romney is; in that I no longer trust any of the front runners or the two party system that seem more interested in having the “normal” Democrat and Republican at odds with one another while the big boys party in the back room and print more money and tax it back in higher taxes so they can give more of it away to the undeserving poor so they (the politicians and banksters) can have a reason to take more money from the working class and keep the sheep sheered; and happy with the little patch of green grass called money.

It is a good thing that most people don’t want to be “Wealthy” because most people could never make it. God Bless those few who make it honestly… they are the ones the Banksters are trying hardest to defeat; because the rest are happy to just get by in life. What else could a sheep want?

Actually, Bill Clinton is more to blame, and then Bush added fuel to the fire. Clinton signed into law, Graham Leach Blily Act, which did away with Glass Steagall. This broke down firewalls between Wall Street and Main Street Banks. It also allowed insurance companies like AIG to countersign loans on double entry ledgers, thus making banks appear to be better capitalized. Insurance is just a numbers game, so it was yet another layer of con men working their magic.

At roughly the same time, Democrats pushed for anti redlining via revisions in Community Reinvestment Act. This allowed politicians to push banks to give out Ninja loans (no income no job) to anybody with a pulse.

Clinton also signed into law, provisions under NAFTA, that allowed private banking takeover in Mexico, and then gave China MFN status. This MFN act, along with private banks, torpedoed Mexico and shifted Capital to China. Mexico has mostly foreign private banks now, and is not in charge of their own currency.

So, the mechanics and all the pieces were put in place by Clinton. The bubble was then propelled by Greenspan who used the FED to keep rates low.

Bush/Greenspan pushed the bubble even harder, thus bringing in revenue to pay for the war machine. This grew private debts to new highs in the economy. Private debt based double entry crap money funded government.

Think about it, it is credit created on a double entry ledger, which then forces housing up in asset inflation, causing a frenzy of loan creation. This false wealth is not tracked by improved productivity, despite the information revolution. By shipping the jobs over to China (MFN), Clinton planted the seeds, that limited productivity growth in the U.S., ultimately undermining the credit bubble he started.

You are so right, Anthony. I just woke up to that fact shortly after the last election. When Obama won the election I got a very sick feeling in the pit of my stomach & knew that something was very wrong. I then began doing a lot of research to figure out what was wrong. I was very mad when I realized what was wrong & how long it had been going on. Then I became scared/fearful about the fact that we are getting so close to their NWO becoming a reality…all I could think of was “they’re bringing us to the end, where the anti-christ will be in control of the entire world until Jesus’ return approx. 3 & a half years later.” Now I’m at peace with the whole thing & looking forward to His return & Him sending all these evil people to Hell for all the evil they’ve caused & done on the earth.

This is why Christianity is the greatest problem in western history. Instead of taking a stand to defeat these people…you sit around in you room waiting for Jesus to do it for you. What MORE in a belief system could the ruling bankster class want? Seriously. It’s perfect. Generation after generation passes by. They eat the best food, live the best lives… while the other 99% waits around for a alien with super powers to come save the world.

Infact, if i were a rich banker… i think i’d promote Christianity at every chance i got. Its the single most effective tool in keeping me rich, and everyone else poor throughout the ages.

You need to be more clinical in your language and lose the sarcasm which many people have interpreted as liberal bias. You have some very good ideas here that could find great potential with a wider audience if you would omit the context of revolution-speak e.g. “Money Power” and Empire”. I would also love to be your editor.

Money Power and American Empire are total no brainers for me. People thinking in terms of ‘liberal bias’ are the ones that need change, not me. I completely detest cultural marxism, as I do the utterly reprehensible tyranny of so called ‘conservatives’, who are but traitors to the traditions of man and the One.

The fact that most Americans, whether liberal or conservative, cannot see what incredible havoc their murdering machine has wreaked all over the world, how it has killed scores of millions over the last century, to make the world safe for Goldman Sachs (aka known as ‘liberty’ and ‘democracy’) is a crucial part of the success of both the Money Power and the American Empire.

We now have people clamoring for a US Army coup d’état to save us from politicians. Ie: people are so blinded, they are asking for these killers to do at home what they do so well abroad: kill, lie, rob, maim and dishonor.

Conforming to the majority has not given me insight, nor do I aim at a large audience, I aim at the best informed, those who have ears to hear. Some of them may be able to spread the word to larger audiences in language that may be more palatable for them. But I’m not holding my breath.

And Thank you very much Anthony…You make perfect sense!
btw, I find it ‘interesting’ how the ending of the Bilderberg sessions and Ed Snowden/ Greenwald
expose occurred almost at the same time…
BBC did give some press to Bilderberg & Alex Jones but then the Greenwald/Gardian report on Snowden came out and poof! no more Biderberg coverage at all!
Coincidence or purposely planned?

“The euro was designed to be eventually backed by Gold and the ECB has enough of the stuff to be ready for the coming transition.”

–Really? Just one of the many completely wild statements with no backing in this “story”.

“There will be a number of more or less equal blocks: a dollar zone, a Yuan/BRICS zone and the euro, with the Yen and the Pound as lesser entities.”

–What a neat, clear statement. No uncertainty here. No need for proof. Just like claiming that the invasion of Iraq was about oil, with no mention of how it was the Israeli lobby that was howling for an attack on Iraq for twelve years, NOT the oil lobby. The oil lobby has always been pro-Arab, they want peace and stability for their trade.

The euro is a globalist project. But that doesn’t mean it will be backed by gold (!). Or that everything is planned like clockwork the way Anthony Migchells claims here. Strange how only he knows about all these parts of the clockwork, without proof.

This is an opinion piece Tenet. For readability’s sake I don’t offer endless links that nobody follows anyway. Part of what I write certainly is conjecture, my evaluations of the processes under discussion. Just like everywhere else you go.

The Oil lobby and the Zionists are owned by the same people. The Money Power’s strategy always serves many agendas simultaneously. The Oil lobby is most definitely not openly calling for invasions all over the place, but if you believe they have a problem with taking over Libyan, Iraqi and ultimately Iranian oil…well, I just wouldn’t know what to say.

Everything IS planned like clockwork. But of course reality and planning are different things.

Say what you will, the Founding Fathers got a lot of things wrong, perhaps, but they were right on with requiring persons to own property to exercise the franchise ( that means the right to vote for some of you public indoctrination center – i.e., public school graduate, readers). When this country stopped requiring voters to have some “skin in the game”, our undoing was a foregone conclusion. That includes, by the way, actually paying some taxes as well, which a large percentage of Americans effectively do not. The bread and circuses which marked the end of the Roman Empire are evident everywhere. Cue the closing credits on our demise, but it was hastened by the low-information and completely in invested voters who elected and re-elected the current POTUS, who has been enabled by legislators of both parties and our toothless media lackeys. God help us all.

I agree with what you articulate in your comments, yet feel compelled to inform you that the popular vote has not existed as an electoral device since the age of DieBold, and their wonderfully hackable voting machines. There were over 70,000 reports of “irregularities” in the last election for our beloved war criminal Pontus Obama.

You may find this of interest > 22 Signs That Voter Fraud Is Wildly Out Of Control And The Election Was A Sham

Irregardless, we don’t have a direct democracy anyway.
The Lobbyists have us by the gonads!
We absolutely have the best govt that money can buy!!!
Eisenhower and Gen Smedley Butler were/are SPOT ON!!!!

The Dollar was DOA the day the Fed Reserve created it on Dec 23rd, 1913, exactly one hundred
years ago.
Next stage, when this one is imploded, the FR template will probably be used for a global digital
currency backed by new global tax bonds as well as some basket of commodities.

Reblogged this on World Examiner and commented:
“In the last decade the problem of over printing was solved by artificially raising oil prices through the Peak Oil hoax, and ending Iraqi oil production. It must be understood that the Empire is not looking for more oil production. There is so much oil in the world that should it be drilled for freely, it would end the Money Power’s energy monopoly. The Iraq invasion and the quest for control of the Middle-East is to keep a lid on oil production. Saddam’s suicidal decision to accept euro for his oil only hastened his demise.”

The Euro will collapse for the same reason the dollar is collapsing: The Euro amounts to a form of free trade inside of Europe. If Country A’s steel industry puts Country B’s out of business, the displaced worker in Country B cannot readily migrate to Country A due to a language barrier. This is not the case in a closed national economy where displaced workers move to the superior competitor. Daniel Webster argued that the main reason we have our Constitution is to stop free trade. All super powers grew up under protectionism for a reason: it’s sound economics. See rescuingeconomics.wordpress.com for an attempt to make the case.

“The hyperinflation scare that the Austrians have been promoting because of ‘money printing’ is ridiculous: we are in a stagflationary depression and prices are rising because of speculation, not because of excess money. But when the dollar loses its current status, long term price rises will become the norm.”

The Austrians have said the same thing re the dollar status. In fact, its money printing (85 billion per month) that will help that inflation along. It isn’t only the trillions repatriating to the U.S., its also the money in the banks that will be a part of HYPER-stag-flationary leading to the Greater Depression.

Gold isn’t deflationary. What you’ll see is a black market, and the State maximizing terror against its own citizens in order to defeat the black mkt. The empire’s going down, and it’ll be laughable to watch 200 mn rats fleeing the ship.

Some interesting ideas in your article, I would disagree about gold, I would expect it to keep dropping in price, gold had value because it used to back the US dollar not the other way around.
Adjusted for inflation gold is worth 1/2 of what it was worth in 1976.

Andrew this is an interesting idea EXCEPT 1 MAJOR flaw, Gold has been the standard for thousands of years. Its value comes from its limited supply and has ALWAYS been what we have traded in. World currencies historically get their value from how they relate to precious medals, not vice versa.

gold never changes in value. if htperinflation hits, metal will be the only thing that will be worth anything. when has gold been worth nothing?the gold buys the same thing at any price. when it was 4335 AN OUNCE IT BOUGHT A NICE SUIT OF CLOTHES. NOW AT 1399 IT STILL BUYS A NICE SET OF CLOTHES. IF THE DOLLAR FAILS AS THE RESERVE CURRENCY, AND IS NOT USED TO BUY OIL, IT WILL COLLAPSE. THAT MEANS IT WILL COST MORE DOLLARS,NOW THAT THEY ARE WORTHLESS TO BUY THINGS, HENCE THE PRICE OF GOLD SOARS. THEY TRY TO SCARE PEOPLE INTO SELLING THEIR GOLD/SILVER, BECAUSE THEY NEED TO BRING THE PRICE DOWN SO they CAN HOARD IT. I LIKE SILVER. ESPECIALLY SMALL DENOMINATION PRE 1964 COINS. THAT WILL KEEP YOU FED IN A CRASH, IF YOU CAN FIND THE FOOD.

“gold had value because it used to back the US dollar not the other way around”

This is an excellent comment. That’s why I believe Gold will continue to rise (save for rather blatant FED and Bankster manipulation of Comex): they will use it to back the Yuan and Euro in the (near) future.

The US is an Empire but not in the way most think. It’s a military empire like the Roman Empire and unfortunately, it did not learn that too much Capitalism is a system like Communism or direct Socialism that simple doesn’t work and was proven to fail first in the Roman Empire. The only known system that works is something called Social Democracy and that is what Canada and other nations have. Not perfect but the best there is.

As for the national debt, that is never paid with money. It is paid by treaty agreements and China wants something and will simply do a write-off of debt so no problem there unlike people think and then, the States is always ready in case of real financial problems to just go in and invade another nation or at least the threat of it in private holds nations hostage so in that way, it is a proxy tax and in you give or we take and destroy deal.

The States is not going under however; major changes are on the way which will mean a different form of government, practically no freedoms but heck, we lost those 13 years ago anyway and all they will do is put it into effect and set the FEMA camps up, declare Martial Law and whomever the given President is at the time will assume full control and he/she will stay in power for life and then decide who is next so be ready to live a lot like North Korea but upper class street North Korea.

Our situation hasn’t gone sour because of the republic and the Constitution, it is falling down because we strayed too far away from it. Statism is destroying America. Canada, South America and Europe are not safe either. Brazil and a few other nations have been seizing on BRICS. A One World currency is destined to fail just the same as the multi-national Eurodollar.

That’s all good until the part about China. The thing to understand about China is they are a member of the G30 where they take direction from the chair, David Rockefeller, who owns most of the Fed. The global economy is all managed thus. Accounting for this it looks like the US debt owed China is just used to manipulate their economy and could have been repaid long ago. Instead of repaying China US$16T was given to the EU stability fund. Will China back a currency with gold, really? It seems the international banking cartel likes the fiat. The US has more gold than China. Im thinking there will be a new deal at some point with the usual characters in control of yet another fiat.

Rockefeller is one of the players, but he does not hold the most in FRS. Rothschild does and always has. Look back to 1913 when Woodrow Wilson gave the keys to OUR treasury to the Federal Reserve System….a non-governmental agency. Said agency has been owned by Zionists and ruled by Rothschild & Sons dating back to the early 1800’s. The paper trail is there if you choose to research it. Fyi: The Federal Reserve Act expires in Dec THIS year. Everyone should be badgering their congress critters not to renew it. It has been America’s downfall.

Last time I checked, the Yuan was pegged to the dollar AND is not a convertible currency. Hence it is not used as a reserve currency by any central bank in the world. The Yuan is an illiquid nonconvertible derivative of the dollar.

China will never make the Yuan convertible. China is a mercantilist country that wants its people to invest in China, not the S&P 500. China’s monetary policies saved it from the East Asian currency crisis, and their goal is to amass trillions of dollars in their international reserves and to buy up the world.

I disagree. Not a convertable currency yet but since 2011 they are steam-rolling in that direction. Go to your local friendly bank that has at least regional status and read what their advisors say to their business clients who trade with China and how to do it more cheaply. Doing business with the yuan is night and day over just the last 2 years and is expected to get more and more liquid.

China wants to be ruler. No doubt about it and you must deal with the transnationals to do it.

Destroyed by design. Our constitution and our country,,, Destroyed by design.
It took them a while to do it, a lot longer probably than they thought it would take, but the timing has to be right. Now they’re in a big hurry to finish this country off just like the rest. Not much time. Chop chop.

Nice picture at the beginning of the article. You lost me right there.
A picture is worth a thousand words … but I didn’t see Bush pumping the fed like a mad man with QE-1 / 2 / 3 and downgrading our bond ratings.
Sad man .. sad.

Hold on, Bush went before congress 30 times to mention concern to outright warn about Fannie and Fred, and each time was ignored to ridiculed by the Left. i.e., the suggesting to compelling (with greed and/or threat of racism) risky loans, not only put the rest of us in deep debt, but by increasing risk we lost investors and innovators. What happened, and the loss of what could have been, is essentially all on the Left.

Bush might have been president but the Clinton Community Reinvestment Act and Barney Franks takeover of th Bankin Committee in 2004 and control of those quasi government agencies Freddie Mac and Fannie May directed the whole sale repeal of mortgage banking rules established after the Great Depression of 1933 and push banks to lend under the new rules. I think the term “mortgages backed by the full faith and credit of the US government re: Fannie and Fannie. A free for all ensued. Peter Schiff was a lone voice on CNBC warning of the coming collapse in 2004. He is warning of another far worse one in short order. The fall in gold and silver can be seen as lulling the population into believing everything is ok.

This is really no big surprise as “they” have been working to merge world economies for at least 25 years. The American standard of living is being sacrificed in order to merge with less successful governments who do not share our desire for freedom, who prefer power over prosperity for the people.

True but the same hidden money changers will co-opt any new competition. The best disinfectant for bankers is to expose their money laundering schemes for what they are and vote out RHINOs and Progressives.

ths has nothing to do with dems and the repubs this has been in the making long before you and I were born if you read the bibble rember the mark of the beast 666 well that is an economic value it co insides with the rule of 72 this is something I figured out the key is to collaspes the worlds econmmoy so that there will be one world economy if you notice airlines want to be a one world alliance by collasping the worlds economy everyone will be on a electronic system of use
this is in order for the antichrist or a dicttator far greater then the ones we have seen in other words it is about power and control and those days are coming real soon

Thus says The Lord God: I am come in the power of My strength! In the righteousness of My anger, I am come down! I am come to destroy and to take vengeance upon My enemies!

My wrath shall be poured down like a flooding rain upon the mountains!
And the heat of My countenance shall melt the hills!…

Behold! The rivers of the valleys run dry at My presence!

And still the people say, “There is no God in Israel”… Behold, the enemies of The Lord gather! They gather and set themselves in battle array! They gather together to destroy MY nation! They seek to break apart the covenant!… Lo, the cleverest among them devise plans, and the most knowledgeable forge weapons of war…

YET THE BANNER OF THE LORD IS RISEN UP! THE MIGHT OF THE HOLY ONE IS LIFTED HIGH! I am poised in My strength, and My face is set to defend! And when I strike, who shall withstand My assault?! Who shall be left, when the hand of The Almighty comes down upon them?! For My hand is swifter than an eagle! The strength of My arm has crushed leviathan, and I shall not withhold!
The word of My mouth breaks apart the mountains!… Whole ranges of mountains bow down when I pass by!… Look how the earth trembles at My nearness and shakes beneath My footsteps! My eyes are flames of fire! My tears fall and scorch the earth!

The whole world is set ablaze
At the outward glance of The Almighty,
In His hot displeasure!…

A cleansing fire, a purifying flame, of which none shall quench!…

THE FIRE IS KINDLED!

———————————————————————————————————-

THE TIME HAS COME!…
Hear the WORD of the LORD spoken to THIS modern generation!…

Letters from God and His Christ, given to a modern man for modern man’s sake!

How dumb do they think we are? They are the political and financial movers of what is called “The Plan”. We are the People who own and operate the United States of America.

First, to the informed and aware, for decades, They have been doing all kinds of thinks to degrade and downplay the power and influence of America. I won’t list the massive and obvious tricks they’ve played against America and Americans. You have seen them and scratched your head wondering why has this treaty or that agreement always works to do more harm than good for America.

Thus, The Plan has been obvious for decades. The so called intelligentsia have hated solid, well defended, financially stable nations with intact borders. They want a world under the control of a select few with a central government riding herd over three basic spheres of power: the North American Union, the European Union, and the developing Asian Union. A world government will easily control the peoples of those three groups of nations by controlling the Brussels equivalent of each.

This entire article above is just an insiders view of the financial reorientation and leveling of global economies. The downgrading of the US in all aspects has been done to do what leftists often say they want is to bring about “A level playing field”. Obama is fully in on implementation of the New World Order’s Plan. Look at all the things he’s down since in the White House that have negatively impacted America: Centralization of power in DC has been his primary goal because the massive amount of changes that are coming will require massive amounts of police state power to implement.

Once Americans realize they’ve been sold out by their very own fellow citizens at the top of the financial and political spheres of power, there will be Hell to pay. Americans are not going to willingly accept the downgrading of their country and submission to a new continental government like Brussels.

Here is the problem that many involved in all of this have not thought about: The United States is the largest Christian nation on earth. The Bible predicts coming authoritarianism. Christians are very aware of the ongoing attempt to change American into just one of three parts of a centrally governed world. They want no part of this and they are not in any way willing to accept it.

Maybe, just maybe this is why DHS’s Janet Napolitano has purchased close to 2 Billion common caliber hollow point bullets that are never used in war because of treaties.

Totally misleading article, but people seem to eat this stuff up. Point number one, the US dollar compared against all world currencies is stronger now than in years. Point number two, the US is now leading the world in Natural Gas and by 2020 will likely be the largest oil and gas producer in the world. Point number three, the Euro was doomed to failure from the start; why? the European countries share the same currency but do not share the same debt. They don’t have a unified bond market. Money is flowing into the US from Europe and will continue to do so.

You’re missing that the entire political capital of the Banking Cartel (which rules the world) is behind the Euro. If the Euro fails, it will be a devastating defeat for the Money Power.

This sovereign debt crisis was long foreseen by the Eurocrats and the banksters backing them. It is used to create fiscal union, meaning Brussels will obtain control of the national budgets. That’s the real driver of the wholly bogus ‘euro crisis’.

This does not mean the Euro cannot fail. The dynamic under discussion is just the elephant in the room that is usually overlooked.

The US Empire is in terminal decline. It cannot live without the petrodollar. The next round in the crunch is coming and the US is the main target.

You do understand that “strong” here is a relative term? The Dollar being “stronger” than other currencies only means that its “sucks the least” at the moment- Unfunded liabilities in the US over the next 75 years total over 130 Trillion, and that is just the Federal government. Now add on State and local debt and the Student debt, and the United States has the worst balance sheets in the entire world.
Yet we are “selling” our debt at negative real returns – you will literally have less spending power when your bond matures than when you put the money in. As a result, the Federal Reserve is buying 75% of the debt to keeps those rates low – in effect printing money, loaning it to the Govt and expecting our kids to pay it back in taxes with interest. People are already moving off of the dollar- and China ( if they can manage to be the last fiat standing) has a good chance of becoming the reserve. Yes, we may have oil and gas to sell, but you can bet we will be paid in Yuan, not dollars, and subject to the economic winds China chooses to send our way – just as the rest of the world has been subject to outs for the last 40 years – and our number one export: monetary inflation.
The Euro is largely a dollar backed commodity at this point. A decline in the Euro is a decline in the dollar. (look up Dollar swaps in the EU) Meanwhile, Japan, who is 20 years ahead of us on this death spiral, has finally reach the point of imminent collapse. When Europe and Japan go, so do the largest foreign buyers of our debt and products. This is going to be a world wide event and its going to make the Great Depression look like a cakewalk.

no country in the history of the world has ever bought it’s own debt, and survived. one of the first things obama did was but 1.7 trillion and it has never stopped. the treasury creates bonds, and the fed prints money to buy them. does quantyitative easing ring a bell? look up the wiemar republic. as it was stated above, this has been a plan for a long time, and it could have been prevented.

usdebtclock.org

but be sitting down first. you won’t believe your eyes. God help us all.

hype. the facts are 1) middle east oil is the single biggest resource factor in the world, 2) the billionaire oil sheiks cannot defend themselves from either other nations or their own people, 3) the united states marine corp can defend them, so 4) in exchange for united states protection the oil sheiks require dollars in payment for oil. end of story. until this changes then the petro/reserve dollar will reign supreme and there’s nothing anyone can do about it.

The Middle East is falling apart ( if you haven’t noticed) and Russia and China are very interested in what happens there ( war by proxy) and both of those Nations are perfectly capable of protecting billionaire oil sheiks. The Oil Sheiks can also see the writing on the wall – United States monetary policy will lead to the same results Japan is enjoying now- the dollar is done for sooner or later because of our own debts, unfunded liabilities and debt being sold at rates that don’t track inflation, with the Federal reserve buying its own issuance (money printing) . As the dollar declines so will US military hegemony. The Military is already seeing massive budget cuts, and the Chinese are buying or stealing the tech that the Military relies upon for superiority. Look how many oil producing nations have already agreed to trade directly with China in Yuan. The middle east is a large source of (cheaper) crude, but not the only source.

a good scatter-gun answer – through out a lot of assertions and peripheral/future concerns and hope something sticks. but until the core on-the-ground facts change then the petro/reserve dollar is still on.

gee, and here i thought obama was depleting the military as fast as he could.who got all that ammo? hint: it wasn’t the military.the armed forces are being replaced with apologies and weakness. budget cuts spell it out ,loud and clear.

Please-this has been spoken of for years now. China is still a Communist Country,with no Western Legal system. There leaderships does break the law on a daily basis. They hack,steal,cheat,there book are cooked and basically are anti Western Democracy. Yes, they like the freedoms Western Democracy provides. China is still Communist in there core beliefs. Fine,you give them your money to hold,I will pass on that wonderful opportunity.

Socialism/Marxism/Progressivism and the Big Government Welfare state they support are the problem. The Fact that the GOP and the DEMS are both supporters of that agenda ( to varying degrees perhaps) doesn’t change the fact that the idea of a free lunch provided by holding others at gun point isn’t the reason we are in trouble.

Shortly after the dollar lost its gold backing in 1971, international confidence was all but lost in the currency. With a need to restore or supplement that confidence, agreements were reached with the House of Saud. The United States would lend support (militarily and politically) to Saudi Arabia, in exchange for the assurance that the sale of oil would be conducted in US dollars. Once again, the world had a reason to possess and invest in the Unites States currency. The Petrodollar is THE reason the US dollar still holds global reserve currency status.

So? Would you have preferred PetroRubles or PetroYuans?? Because that’s the ultimate reality of the stone soup of Middle East — if not Petrodollars, then Petro-some-other-geopolitical-powerhouse or worst would have been our lot and THEIR LOT as well!

Documentarian reveals the drama and danger behind one of the world’s oldest currencies
MONTREAL – Brian McKenna didn’t predict the recent nosedive in gold prices, but he knows someone who did.

“Andy sent me an email early Friday morning,” recounted the Montreal director. “He said, ‘There’s a big event happening. Someone’s dumping 500 tons of gold into the market.’ That ended up driving the price down by $78 an ounce. And 500 tons is 16 million ounces — we’re talking about a serious intervention here. Who’s got that kind of money?”“Andy” is Andrew Maguire, a key source in McKenna’s fascinating new film The Secret World of Gold, which premières Thursday at 9 p.m. on CBC-TV. The hour-long documentary plunges into the dramatically rich narrative of gold, unveiling some shocking facts along the way.

“I was just going to do a history piece, until I stumbled over a whistleblower,” McKenna said.

A veteran gold and silver trader, Maguire denounces the shady tactics of the industry, breaking down the ways in which precious metal prices are manipulated using insider trading.

“He was tremendous,” McKenna said. “It took me eight months to persuade him to come on camera, but I was willing to wait. I knew he was critical to the film. It turns out he was burned by the BBC. He spent seven months showing them everything, going online and showing them the way things worked. Then after all that, they said, ‘The show’s been killed.’

“Word on the street is that Tony Blair, who is on a retainer to JPMorgan for $2 million a year, made a call (and the story was dropped). Did that happen? I don’t know. It’s an opinion that people hold; it doesn’t make it so. But something made the BBC stop an important investigation into which they had probably invested three-quarters of a million dollars.”

McKenna’s film also explores the secretive smuggling of European gold reserves during the Second World War, and how gold has gone from a reliable physical currency to an abstract concept, bought and sold in the blink of an eye on the stock market, taking on all the baggage of modern global finance in the process.

An investigative journalist and historian, McKenna estimates he has made 100 films over his career, including many provocative documentaries on war and politics. The topic of gold presented itself to him in the form of a rumour.

“A long time ago, I heard a story which I which I wasn’t sure was true,” he said, “about all this gold coming to the Sun Life Building’s vaults, far below the surface at the height of the Second World War. I thought, ‘That’s curious,’ but it turned out to be a critical moment in the war: if that gold had ended up at the bottom of the ocean, England wouldn’t have had the money to buy arms from the U.S., which was operating on a cash-and-carry basis, and fight off Hitler.”

Vast amounts of French and English gold were shipped to North America to avoid being claimed by the Nazis, McKenna reveals, with Montreal and Ottawa becoming important for storage. It’s but one example among millions of gold being moved, hidden, stolen, reclaimed and sunk to the bottom of the sea through the ages, making and breaking many a nation along the way.

Those expecting an escapist narrative about the enduring allure of one of the world’s oldest currencies don’t know McKenna. A founding producer of The Fifth Estate, he’s like the anti-Midas: he can’t help but dig up the dirt on anything he touches.

His 1992 CBC documentary The Valour and the Horror received five Gemini Awards, while sparking a CRTC investigation, a senate inquiry and a $500 million lawsuit by Air Force veterans, which was dismissed. All to say, the man is used to ruffling feathers. In keeping with tradition, The Secret World of Gold is far from a puff piece.

“It’s the toughest documentary I’ve ever made,” McKenna said. “It took over a year, and led me down so many corridors. Once you go down one corridor, two doors open, and you don’t know which one to take. This happened over and over. It’s virgin territory. No one has been down this path before, to report it.”

Though his film reveals amazing things about humanity’s conflicted relationship with gold, McKenna was most excited by the human story at its centre. Maguire may well have put his life on the line by speaking out, the director explained.

“We weren’t able to include it in the film, because it’s still a mystery, but it looks like somebody tried to kill him. Two days after he blew the whistle (to the Gold Anti-Trust Action Committee, in 2010), out of nowhere a van rammed and almost demolished his car. And there was almost no investigation.

“Andrew Maguire standing up as a gold and silver trader and saying, ‘This is wrong’ — that’s the kind of courage I like to capture in my documentaries. Whether it’s p

Very good info – not surprising that the documentary was killed – if they had continued, they would have been goners for sure.

Obviously it is too important a point for the future.

Who has that kind of money to dump 22 bio. $ worth of gold? Well – that is not really that much to the money power. They can do that even in the spot market, though mostly prices are manipulated on the derivatives markets.

Also funny are the comments below the article – gold and silver are the true wonderful real currencies – we have to ditch the rotten fiat money system bla. bla. bla….. I am afraid mankind will have to step into the golden hell again to realize how good a gold-based system truly is.

People have to realize that successful traders are not know-it-alls (if Thomas Beecham is one). They usually understand certain market fluctuations and use them according to their individual psychological makeup and succeed mainly due to very exact money management – meaning – the successful ones cut their losses quickly and let the wins run. Some of the best ones are only right 30% of the time. That is how they succeed.

You are absolutely right in stating that the money power does not fear gold, while owning most of it and close to 100% of the gold mines (including those which are not even mined – there are plenty of those – even proven ones to be in possession of the Rothschilds i.e. in Canada since over 100 years!).

Beecham might be right of course with the trade – they let Gold and other precious metals fall. However other traders are on the same trade – technical ones, intuitive ones – without any rationalizations for the motive of the money power. There can be ample reasons for the fall – simple money trade, suckering in the “patriots” to impoverish them even more, then of course all-out-purchase at the bottem when most will be selling. They could play that game several times in the decades before the potential gold-based-world-currencies.

>>>>Goldbugs Can Expect More Losses
Goldbugs are not as stupid as the guy who came up with above title

People who would not buy gold for $200.00 in 2002, purchased gold for $1600.00.
People who would not put money into stocks in December now look much confused.
The goldbugs made their money by the end of 2012, and positioned themselves in the market; the U.S. government pumps 80,000million interest-free money into the hands of speculators every month; where else can the market go but up (and the sucker who exchanged $300,000.00 cash for coin in November is wondereing whether it would have been much cheaper just to travel to Phuket for a sodomy)
When the time comes, goldbugs will exchange their stocks (at sizeable profit)

>>>>> Joel Skousen is probably the most astute man I have come across regarding the New World Order. I agree with his assessment that this financial Ponzi scheme can be maintained for at least another 3-4 years, and war will be averted until the end of the decade. This will be the war that will provide the US Treasury with its force majeure to cancel debt.

the moral of the story:
the indian rain dancers were succesful because they did not stop dancing until it started raining…..

In May 1998 (two weaks after Gary North first appeared with Art Bell) Joel announced on Coast to Coast that there will be a war, an all out nuclear attack by Russia in 2003 (later, of course, he adjusted his prediction)

In December 2004 Joel told everyone who was listening to Radio Liberty that the full scale U.S. attack against Iran would commence in the Spring of 2005

Joel spent his entire life (he is now over 60) selling bunkers, and he made a good living off it; so far none of the people who purchased his product had a chance to use it

With trading – the most people will buy right at the very top and most people will sell at the very bottom as the market turns around. Of course being an insider or powerful enough to sway the markets as a money-power-agent trading is completely risk free. Even the lower-level minions get fleeced quite often trying to get the better over each other – banks, hedge funds and billionaires. Nevermind the public and “their” investment funds they invest in – those are just financial cannon fodder.

Besides – there is no guarantee that the public will be able to sell gold at a huge profit before a gold-standard. Forced confiscations via “generous buy-backs-or-else-schemes” have happend before and why should they not happen again when the depression is really deep again? Since most people will not own gold and will be dirt-poor by then, they will not care about the couple percent of non-insider owners who get their gold conifscated.

Great point with the rain dancers – global warming will be right from time to time as well.

As far as some dire predictions go – everyone has to think for himself and best study what THEY say themselves about the future – CFR publications, Carroll Quigley, Jacques Attali, High Level Military docs etc. They expect no global thermonuclear war, only mini-nukes on the protesting public (both military docs and Jacques Attali mention that). It is useful to put yourself in THEIR shoes and find out what they are thinking and doing and then those things are not that difficult to judge correctly in fact.

Another fantastic article, Anthony, thank you very much for your enlightening words. You have been on a roll, lately. I think you are correct in your analyses that the threat of a complete collapse of the economic system is mainly illusionary. The powers that be have no interest in collapsing the economy, their interest lies in bankrupting individuals and companies which are expendable. Their interest lies in extracting wealth from the population, without collapsing the system, and if the system is collapsed having a new system, a new method of wealth extraction ready. Your assessment that a new system with the gold standard has been in preparation behind the scenes to enter centre stage for years, And in the final analysis, yes, it is possible that this process may spiral out of control even for those who have engineered the collapse … yet that will not happen within a few months or a few years, but to be honest, I have no idea what the timing of these ‘end times’ is exactly. And of course their is a large group of usefull idiots and middle management who think they are profiting but who are in fact being used by their superiors and will be discarded and abandoned when they’ve outlived their usefullness.

In the short term future I see poverty and dispair spreading among more and more people, even in countries like the Netherlands and Germany who have had a relatively well functioning economy up to now.

The middle class is being destroyed, purposely, in all Western nations. I believe that you are correct in asserting the big lies which have been spread to lull the masses into accepting their future predicament planned for them by people who are planning to profit from their plundering and pillaging.

An example of what is waiting for us may be found in the Russian revolution of nearly 100 years ago. A great source is “In the Shadow of Hermes” [ http://www.youtube.com/watch?v=Hb4FaYT6jkU ] who documents the real business of that communist revolution, which is plunder and murder. Also Anthony Sutton has explained who planned, financed supported this event by bankers in London and New York. [ See for example http://www.youtube.com/watch?v=J3nDbJooPu0 ]. The events of 1917-1922, which kept continuing until the 50’s and after, have shown that even if society is largely destroyed and on the brink of collapse, it still may take 70 years for people to shake of their oppression. And in the end in Russia one method of oppression was traded in for another, perhaps more subtle and more effective.

The crimes of this systematic plunder continues hidden by mass media and scientific distraction. Usury is the main method of wealth transfer, and it is effectively assisted by other methods of extracting wealth from the population including the use of poisonous medicine (vaccines), created shortages (peak oil), false or created threats (islamic terrorism), etc, etc.

Perhaps things have to get much worse before they get better. I believe that the human race can awaken from this nightmare if it realizes how deep the illusion goes. In the end I believe only a spiritual awakening can save us from our predicament. Time is short. It’s getting shorter fast, and I hope and pray that more people will come to your blog to let some truth shine in their lives and act as a disinfectant against the toxic lies that warped our reality in our prestent situation. Through uniting in spiritual realization we can end our current dark age and united in harmony and peace.

God bless the earth and all the souls that inhabit it.
Buss

PS Let me end this with an interesting link revealing more truth about the true state of the debt situation here in Holland:

Sadly you are correct sweJ it is the elephant in the room that no one wishes to discuss…but there is an important note i would like to make…most Jews are like anyone else…it is not a conspiracy where the entire population of our species that believes in Judaism or is of Jewish descent takes part in but aye people who are labeled as Jews are involved oftentimes when you review the incredibly muddled history and examine the modern day influential and powerful players. Though I would implore you to consider that perhaps these conspirators are not truly Jews. In fact if the goings on at the Bohemian grove and the layout of Washington D.C. are any indication of their true beliefs gosh they might be considered satanists actually…by the by are you aware this word Jew is a fairly new word etymologically? Sorta makes one wonder. Words can be powerful and magical. Wonder why that one was coined….

Buzz suit thank you for your eloquent response and for sharing the sources of some of your knowledge. I am reviewing them. Take care sir. If there were more like you we might be able to get out of this mess yet. Though as someone awake and aware I would have to say your comment “In the short term future I see poverty and despair spreading among more and more people…” is spot on and very troubling. As one of those seeing his families wealth being leached to the point where we can barely manage a decent living it truly is something that causes despair…

What about the IMF XDR (Special Drawing Rights) which would be a part of the conversion process carrying the few select currencies, (among them a gold backed Yuan perhaps) as it is trading very close to, and for a short, had passed the British pound in value?! Also, Australia is the latest to stop trading the US dollar with other countries.

Quote:And there is of course the euro, which, make no mistake, is in great shape.
The Euro in great shape?? Tell it to the Cypriots, Greeks, Spaniards, Portugese, Irish & even Germans! Ask the average Frenchman what does he think of the Euro?

Of course, I was looking at it from a Money Power point of view. Like I said: the euro is deeply hated, but it is here to stay, that’s the issue. There is much nonsense out there saying it is dying, but they need it for world currency.

T-Bill economy, Washington Consensus, Post Bretton Woods and Dollar Hegemony are all concepts I would like to weave into the story.

After the collapse of Bretton Woods when Nixon went off of the Gold Window in 1971, a new world order emerged…the Washington Consensus. Underlying the Consensus was the new TBill economy. Foreign (non U.S.) countries were dared to buy U.S. goods instead of Gold. Excess dollars had accumulated in overseas central banks in response to deficit spending on Vietnam war. These excess dollars were spent on TBILLs rather than buying U.S. goods. Why? Because demanding a U.S. good, like a car, means one less car made in Europe, etc.

Therefore, U.S. deficit spend dollars would recycle from overseas to the U.S. to buy a TBill, the dollar then is respent by U.S. government, usually on the military industrial complex. In other words, the TBill economy and Washington Consensus is paid for by trade deficit recycled dollars buying TBills. This is why there are some 800 overseas military installations funded by the U.S. The dollar is recycled but the TBill remains on the books, incurring debt on the future U.S. taxpayer, and the future is now as the public debt ratio increases.

During the Yeltsin years, Russia was encouraged by the Harvard boys to convert their economy to one of resource extraction in order to acquire hard currency i.e. dollar hegemony. They were also encouraged to go into debt for hard currency created as bank credit. Oligarchs (mostly related to Jewish money power) ended up acquiring state assets and public commons on the cheap, through inside deals. Other debt free post-communist countries also were encouraged to go into debt, by converting their commons to hard currency. Latvia is a good example, where formerly free lands now have generational debts.

So, I wouldn’t give too much credit to O’Neill at Goldman. The pressures were already there to divert from Washington Consensus and dollar hegemony. Countries don’t want to purchase their being surrounded by foreign military establishments. Bush lied when he said the U.S wouldn’t surround Russia, and to my mind, that is when the BRICs began as function of pressure. Goldman simply wants to convert BRICS resources to capital, and keep their wealth position secure.

The elephant in the room is the problem of usury capitalism requiring marginal utility on capital. Capitalism (positive interest) is always looking for gains to monetize the commons and to turn things into money/debt. The money powers ideal scenario it to hold money as wealth, and keep labor depressed and hence labor and their money is under control. The money powers want usury capital to work for them, and to maintain control of worldwide contracts to insure their wealth position – hence the U.S. military as an enforcement arm of bankers.

The U.S. may not be the money power, but they are certainly used as an agent. The money power can jump, to wherever they think their stored money (usury capital or gold) stays safe as an asset. Positive interest usury capital is the root problem.

Yeah, you’re right REN, T-Bills most certainly were a vital part of dollar hegemony. Just look at what the Chinese and the Japanese hold, recycling dollars ad infinitum, but at the cost of the usury paid for them.

And most certainly the US is an agent. The Money Power’s Golem, I would say. It conquered the world for them and now that it has, it can go.

Anthony, this all ties in with what I see as the Illuminati fondness, or even dependence on numerology. This year marks the 100th anniversary of “the creature from Jekyl Island” – the Fed.

Classic m.o. being “use,abuse and discard”, is this the year they put the kibosh on the Federal Reserve System, it having served its nefarious purposes and now thrown into the dustbinof history?

Maybe a precursor to this occured with that whole controlled opposition “Occupy Wall St” event. Rouse the “rabble” by using Ron Paul in last years American Presidential campaign to put a negative onus on the Fed. With chants of “audit with the Fed” and “down with the Fed” resonating in the American psyche to make it look like the authorities are doing the right thing and showing responsibility in moving on to the next phase. Make the Fed LOOK odious to the public and replace it with a perceived legitimacy of something even MORE odious.

I forgot to add that the Chinese and Japanese quit buying. Most T-Bills are now just directly monetized by the Fed. That’s part of where the monetary expansion of the Fed balance from two to three trillion that the Austrians always refer to points at.

Dick Eastman recently reported lately in the late ’90’s International Banks quit buying 30 year bonds. Implying they didn’t believe the US would be around to pay up then. I wonder if they didn’t quit buying at least 10 years late.

2013/4/7 Anthony Migchels

> Yeah, you’re right REN, T-Bills most certainly were a vital part of dollar > hegemony. Just look at what the Chinese and the Japanese hold, recycling > dollars ad infinitum, but at the cost of the usury paid for them. > > And most certainly the US is an agent. The Money Power’s Golem, I would > say. It conquered the world for them and now that it has, it can go. > >

Dear Migchels, you made a few very good observations lately, especially concerning warnings and Bitcoin, however here when you throw around economic terms, please consider that most, like me, have no idea what they really mean. They are usually being used to deceive people. So when you say it’s ridiculous, I don’t follow.

In 1935, Mackenzie King (Canada) explained the problem and predicted what we are witnessing today:

“Once a nation parts with the control of its currency and credit, it matters not who makes that nation’s laws. Usury, once in control, will wreck any nation. Until the control of the issue of currency and credit is restored to government and recognized as its most conspicuous and sacred responsibility, all talk of the sovereignty of Parliament and of democracy is idle and futile.”

During the Great Depression, Congressman Louis T. McFadden, Chairman of the United States House Committee on Banking and Currency, moved to impeach President Herbert Hoover, and introduced a resolution bringing conspiracy charges against the Board of Governors of the Federal Reserve for sabotaging the economy:

“The international bankers sought to bring about a condition of despair here so that they might emerge as rulers of us all. When the Federal Reserve Act was passed, the people of these United States did not perceive that a world banking system was being set up here. A super-state controlled by international bankers and industrialists acting together to enslave the world for their own pleasure. Every effort has been made by the Fed to conceal its powers but the truth is—the Fed has usurped the government.”

YA, PA Representative McFadden was shot twice and poisoned twice. He died on the second poising for fighting to End da Fed. JFK was killed over Executive Order 1110. Charles Limburg Sr fought to end da Fed also. His son was goin to enter politics to fight against the BANKSTERS. His child was kidnapped and murdered!

May be I’m mistaken, but I dont see any inflationary pressure on the Dollar. The contrary should be the case:
There are 23 Trillions of $ awaiting in offshore banks for the squeeze of debtors in $ all over the world. They can’t repay their “loans” as the New York banksters stopped further lending to them (maybe except at very high rates).
Furthermore anybody who wants to call home his bucks, which are invested abroad in the foreign currencies, has to convert these currencies in $. So there should be a run on the Greenback.

The dollar is not perishing. It is getting stronger as a reserve currency. It is the Euro that is being sidelined to a non reserve currency role. It will be useful for exchange but not reserve. There is no replacement for the US dollar as a reserve currency, not gold not silver not anything. Do not confuse petrodollar or Euro dollars as substitutes. These are merely after images of dollar use.

Keep in mind the NATO(New American Terror Organization) is at the ready to pulverize any body that tries to escape the dollar dominance as directed from, you guessed it, London city bank of England. The US will deliver smart bombs as needed to assure US dollar dominance. By the way the world economy as a consumer economy needs more dollars not less. Just a thought Rduanewilling

I think Anthony’s analysis is right on the money. The elites are moving on from the US dollar. As Anthony wrote, “the US Empire is not the Money Power!”. Once the dollar loses its reserve currency status (which won’t happen overnight, but could be a pretty quick process), my guess is that there won’t be any “reserve currency” (except physical gold, which is the only asset that central banks worldwide are accumulating, as I’m sure you have noticed). Of course, there will be a few major currency blocks (North American, European, Asian, and probably Middle East), but no worldwide reserve currency. The Euro was designed from the beginning for the post-“dollar as reserve currency” era, and I believe that it will not only survive, but fare much better than the US dollar in the coming years.

Regarding the NATO, you are seeing things as they seem to be now, but you are neglecting important trends and recent developments. I would not be surprised if the North Korea theater show is the prelude to a deeper American crisis that will be used by the elites to accelerate things.

I understand your point, but the Euro cannot be a reserve currency because Europe does not represent a universally shared notion of credit ie belief. Money is credit in circulation ie a shared belief in a common interest. The Euro is a sort of financial stunt, a prank on Europeans that they sort of agree to go along with for the sake of exchange. Rduanwilling

I realize full well the euro looks ridiculous. It IS ridiculous. But they want this and the Money Power’s full political capital is behind it. How can there be world currency if they can’t get the euro to work??

And shouldn’t all this be in keeping with the biggest picture of them all? That being the one reflecting Albert Pike’s pronouncement, per the Protocols, of a 3rd World War. But first all the ducks have to be put in a row.

I did some research on this a couple years ago and read his books. This Head Mason supposedly stated this in the 1870’s to an Italian Globalist. I could track down by another source discussin the letter in the 1920s.
\
\Not sayin he didn’t write it in the infamous letter supposedly in the British Museum. So even if someone forged it in the 1920’s. This letter still predicted WWII correctly and unfortunately appear to be on the money for WWIII. LOL!

World wars do not engulf all the countries in the world. WWIII has likely begun with the first Iraq war. According to Pike it is supposed to involve the Islamic States and Israel. If you live in countries like Iraq, Afghanistan, Libya, Syria – maybe Iran next – (also the turmoil in countries like Egypt) this feels like a WWII kind of scenario. There is no need for a global nuclear conflict to make it as WWIII. I believe that even for THEM it is too much of a risk to let millions of soldiers sit around missiles who God knows what would do if their families get killed and especially since so many soldiers now wake up to the real rulers. Why should they care about orders then? THEY are not stupid as to not know that a rogue nuclear submarine can wreak havoc even at their safehouses or private islands.
No – this is a risk that is not worth the potential trouble.
A simple state by state war of “rebellions” or maybe later some more formidable HAARP use on Iran and North Korea is enough. Sure – UAE and Saudi Arabia will have to join the Brave New World too in the end, but this is truly not worthy of a Nuclear Worldwide Holocoust. Those countries may hold out for a while or a decade or two, but there is so few left outside their control, that I do not believe even those few countries have the slightest chance of staying more or less independent for much longer. They are all of course completely surrounded from within by many many high level agents that they are about as likely to win as Germany was to win WWII. You simply cannot win, if it is orchastrated by THEM and you have plenty of agents within working for THEM. There never was a chance for Germany to win WWII.

Bourchakouon, Jacob Schiff, a founder and business partner of Rothschild’s and Warburg who established the FED, also gave Leon Trotsky 20 million in gold and chartered a ship to send him from NYC in 1916 to start the Bolshevik Revolution.
\Bush, Ford, GM, IBM, Singer, Rockefeller along with Paul Warburg and Rothschild’s IG Farben and Krupp Steel also financed Hitler’s rise to power so he’d pressure the NAZIs to force the Jews to immigrate to Palestine.
\
\The BANKSERS, ie Global Internationalist NWO folk who own both/ALL sides.
\
\They will not control the Red Chinese when they have ALL our manufactorin and the next generation of weapons system. So what they goin do? They ALL want the world population to be 500 million to 2 Billion people. A lot of people gotta die. Figure they’ll unleash a bio-agent that attacks Orientals with say a 95% kill rate and others say 50%. As long as they have a vaccine for themselves they will not care. The other scenario is one big Nuke war and the ELITES hid in their bunkers that many of them have for a couple years.
\
\Either way if the NWO is Illuminati, Masons, Jesuits, Zionist, NeoCons or just plan SATANIST Puppets, They ALL want to rebuild Solomon’s Temple. That will require the ME to be wasted so they can do so. They destabilize the ME. Israel is nuked by the SHIA or ground attacked my the Sunni, matters little. Israel last action will be to retaliate with the Sampson Option. Six million Jews and 66 million Muslims mean nothing to them.
\
\Jerusalem becomes the center for World Gov, Finance and religion. I’m thinkin Baha’i since Soros has put hundreds of Million in it.

\How crazy does that sound? No crazier than US policy in the ME NOW. LOL!
\
\
\
\
\

That’s an interesting point to stress, memehunter, that universal Gold backing in fact implies universal reserve, and indeed universal currency. It’s even closer to world currency than I stated, good point.

Reserve’s imply settling imbalances within the system. Double entry ledger mechanics require BM issued forth must return to that ledger. I cannot stress this enough, double entry mechanics predict their behavioral output. Therefore a networked system with a reserve mechanism is a must-have for double entry banking to continue.

If the reserve mechanism is de-linked from the dollar, then the U.S. Golem is eliminated as a weak point. We cannot have resurgent U.S. nationalism reclaiming the dollar as sovereign to its country, can we?

The question then becomes, how do you establish world legal and force means to protect debt contracts?

These debt contracts are in turn a function of usury capital formed at the moment of hypothecation.

Perhaps everything eventually will be settled with all these repatriating dollars ‘investing’ in the US, which is liquidating at depressed prices in order to settle debt, basically taking over the whole country.

Thnx very much Anthony…Excellent article.
I note you reference Dr Roberts; Went to his website and posted this comment~
Paul,
Have followed u for some time and essentially concur with your format, at least long term.
OTOH, good ol’ “Broken Clock Harry” Dent’s theory now seems to finally be showing some legitimacy, wouldn’t u say?…
Especially the Dollar’s rise as he’s been predicting ad nauseam !
I suppose the next few days or wks will further substantiate his thesis, especially if gold breaks thru the double bottom it recently hit.
Of course there’s always the unpredictable ‘black swan’ that no one can foresee or predict which would trash everyone’s theory, n’est?
I continue to muse about this ‘Bitcoin’ and wonder if the Banksters actually did drum
it up like the proverbial flag, “to see who’d salute”… Irregardless, I wouldn’t be surprised if they’ve commissioned guys like Ray Kurzweil to work on some type of global digital currency to be introduced before or after the implosion.
Lindsey Williams commands that his ‘elitist friends’ tell him the collapse won’t occur
until a considerably higher percentage of the population is dependent on the govt.
Here’s a recent statement from him:
” The Elite Want To Drown The World in Debt Before Collapsing the Global Economy.
We Will See The Collapse of All Paper Money in a Period of two years Maximum. The Elite are working for a date of the collapse of all paper currencies , it could be in a year or in a year and half. What happened to the banks in Cyprus will happen to New Zealand, Japan, Australia, Canada, and even America; You better get your money from your pension fund bank account retirement account , IRA , 401K or you will lose it all overnight.

-The Federal Reserve is making some huge financial moves that will drive the USA deep into debt and decrease the buying power of the dollar. They will take them and use them as an investment in the derivative market. “They will hedge the derivative market.” They will fractionally reserve all the mortgages and turn the $40 billion into $360 billion and make $1 trillion off of mortgage debt. The banks receiving the $40 billion will turn around and take this money and buy treasury bills. It will go towards paying the debt of the US, not to improve the economy. Basically, the FED gives the bank money which they give back to the FED and the FED ads fees and interests which drives up the debt more.”

Like Harry Dent tho, Lindsey Williams has been considerably off on some of his prognostications.

Definition of terms? Who exactly is the Money Power? I would suggest the Old Banker class who never relinquished their fealty to gold. Then there are the nouveau riche banker class who, becoming enamored with their petrodollar (transitory/fiat-centric) power, took their eye off the gold, leasing it right into the hands of the East from whence it shall never return. Do you explicitly define or demarcate this Power somewhere up here?

There’s an interview of Evelyn de Rothschild in the 2008 era where he gently chastises the speculative frenzy of the upstarts. This is Money Power lecturing the nouveau riche and bemoaning the lack of ‘proper supervision’ lol. Here we see a delineation in the banking class.

And yes, bank deposits are unsecured credit extended to the bank i.e. they are bank assets. Cyprus is the expired canary at the floor of the minefield (86% confiscation). TARP was the hors d’oeuvre.

I’m not a tin foil hat guy as a general rule. But clearly government ammunition purchases and camps are being set up for a reason. US food stamp benefits were trimmed just this weekend.